2014 will remain a special year for us as we completed 70 years of our corporate journey. During these seven decades TIL faced numerous challenges, but has always managed to preserve its core values and carved out a niche in the infra space of India. TIL, its subsidiaries TIPL, TNPL and TILO, remain forever committed in its shared vision of creating a positive difference to infrastructure. The ultimate goal for us is to drive greater growth for our business, consolidate image, create sustainable value for all stakeholders, and build a stronger India.
The year that has gone by had seen its fair share of setbacks and hardships. Now, as we navigate the last quarter of the current fiscal year, some of these economic headwinds have abated. Inflation has eased and our current account deficit seems to be no longer a cause of concern. But, a sustained industrial recovery still eludes us, and our government, despite unforeseen windfalls like the sharp drop in global crude and iron ore prices, is struggling to achieve full-year fiscal targets.
However, the outlook for the future remains positive. A decisive election mandate has endowed us with a government that has both the will and the resources to implement
necessary reforms. Measures taken to improve the Ease of Doing Business in India, coupled with promising initiatives like the Make in India campaign, have given us reasons to be optimistic. But, needless to say, the pace of our economic recovery will be limited by the enthusiasm with which conflicting interests are resolved in the Parliament.